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Luye In-Licenses China Rights to Cancer Drug from Korea's Hanmi Pharm

Aug. 21, 2014

On Aug. 21, 2014 Hanmi Pharm announced that it entered into a license agreement with Luye Pharma Group to co-develop Poziotinib, a pan-HER inhibitor discovered and developed by Hanmi for the treatment of cancer.

Under the terms of the license agreement, Luye will receive exclusive rights to develop, manufacture and commercialize Poziotinib in China, while Hanmi retains exclusive rights in all other territories. Luye will run and fund the development, manufacturing and commercialization work in China. Hanmi will receive an upfront payment, development and regulatory-based milestone payments up to $20 million and royalty payments on future net sales of Poziotinib in China.

 Poziotinib is a novel, oral pan-HER inhibitor blocking EGFR family receptors. Currently, poziotinib is being investigated by Hanmi in EGFR-mutant NSCLC (Phase 2, supported by National OncoVenture), gastric cancer (Phase 2), head & neck cancer (Phase 2) and HER2 positive breast cancer (Phase 2).